Penalty For Uninsured Not Signing Up For Obamacare To More Than Triple
November 12th, 2014Via: CBS:
Americans will see their bank accounts shrink if they don’t sign up for Obamacare in its second enrollment season.
Uninsured Americans who decide not to enroll will face a penalty of $325 per person, more than tripling the $95 penalty those who did not enroll had to pay the first time around.
Children under the age of 18 will be fined $162.50. The maximum amount an uninsured family will be penalized is $975 under the flat-rate method.
“The penalty is meant to incentivize people to get coverage,” Laura Adams, senior analyst of InsuranceQuotes.com, told CBS News. “This year, I think a lot of people are going to be in for a shock.”